WTI, Brent see slight price declines

Crude oil prices were lower Thursday after the euro dropped from a record high versus the US dollar and as worries continue that demand will decline due to high prices at the pump.

Near the close of trade on the New York Mercantile Exchange, May contracts for West Texas Intermediate Crude were $1.32 lower to $109.55 per barrel, while Brent crude was down 27 cents to $108.20 per barrel during the session on the ICE Futures Europe exchange in London.

Nymex May gasoline dropped 1 cent to $2.77 per gallon while May heating oil was down 4 cents to $3.19 per gallon but May natural gas gained 2 cents to $10.08 per million British thermal units.

The US Energy Information Administration reported that US natural gas inventories were down by 14 billion cubic feet last week to 1.234 trillon cubic feet, below the 5-year average.